Nearing the launch of the crowdfunding campaign for their digital cryptoproject Polybius, the Estonian company Polybius Foundation has declared their starting client base. The 500,000 strong user base of HashFlare cloud mining service, owned by the founders of Polybius Foundation, will help them smash their initial funding goals.

“The greatest projects happen, when innovative ideas meet meticulous implementation. The client base of over 500,000 active users, already interested in investing into the cryptobusiness provides us with a massive head start to accomplish our most ambitious goals.”

— Co-founder and Chairman of Polybius Foundation, Ivan Turygin

Polybius is the general name for the ecosystem connecting the Digital Pass remote identification service, storage of protected personal data, and financial services through Polybius Bank.

Digital Pass will become the universal all-European counterpart eID, with a wide range of functions, and more versatile than existing electronic identity cards. For example, in EU countries there is to date no single database for people’s health conditions, so with a prescription signed by a doctor in one country, you can’t buy medicine in another country. No educational database exists to record in digital format which courses have been attended, so in order to continue studying in a new place, you often need, as in the old days, documents on paper.

These and other problems will be solved by Digital Pass, developed by Polybius Foundation. Its users will receive a universal digital repository of their personal data in the blockchain, accepted by state and commercial organizations as equivalent to classical ID. For example, when providing urgent medical assistance in a foreign country, medical professionals will have access to their full medical history and insurance information upon a patient’s consent, with no excessive procedures or legal paperwork. A Digital Pass user will be able to decide for themselves which pieces of data to show to whom, while the repository’s security level makes information impossible to access without permission from its owner.

The Digital Pass’ launch will be organized by Polybius Bank, a payment institution under the auspices of Polybius Foundation. In those European countries which do not have their own eID, Polybius, as a banking organization, will be able to issue its own eID, officially recognized by all remaining EU states under the eIDAS directive of July 23rd, 2014.

“We are starting our journey as a payment service provider, allowing users to pay for purchases online conveniently and reliably, without third-party applications or entering unnecessary data when a phone contains all the tools for 100% guaranteed user identification: fingerprint, voice recognition, and facial recognition using the camera. We want to build the ultimate financial infrastructure, sort of a “financial Google”, which will not only simplify and reduce the costs of finance management for the people, but will also become a vital part of all aspects of their daily life, while at the same time providing them maximum control over their data.”

— Co-founder and Chairman of Polybius Foundation, Ivan Turygin

Polybius’ crowdfunding campaign, in the format of an ICO, starts this Spring and aims to raise more than $25 million. Everyone taking part in the campaign will be among the first to get a bank account and the first in line for the Digital Pass digital identity. After the project’s launch, everyone is welcome to join it.

Questions from the press and bloggers can be directed to the official Polybius Foundation Spokesperson, Edgar Bers

Disclaimer:Polybius Foundation is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest.